Kentucky Retirement Systems Insurance Trust Fund Purchases Shares of 1,588 EPAM Systems, Inc. (NYSE:EPAM)

Kentucky Retirement Systems Insurance Trust Fund purchased a new position in EPAM Systems, Inc. (NYSE:EPAM) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,588 shares of the information technology services provider’s stock, valued at approximately $268,000.

Other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC lifted its stake in shares of EPAM Systems by 90.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 114 shares of the information technology services provider’s stock valued at $27,000 after buying an additional 54 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its holdings in EPAM Systems by 2,500.0% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 130 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 125 shares during the period. Sentry Investment Management LLC purchased a new position in shares of EPAM Systems in the first quarter valued at about $33,000. TD Private Client Wealth LLC lifted its holdings in EPAM Systems by 88.5% in the 4th quarter. TD Private Client Wealth LLC now owns 147 shares of the information technology services provider’s stock worth $34,000 after purchasing an additional 69 shares in the last quarter. Finally, CX Institutional purchased a new position in shares of EPAM Systems in the first quarter worth $42,000. 91.58% of the stock is currently owned by institutional investors.

EPAM Systems Price Performance

Shares of EPAM stock opened at $173.36 on Thursday. EPAM Systems, Inc. has a fifty-two week low of $138.15 and a fifty-two week high of $269.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.06 and a current ratio of 3.06. The firm has a market capitalization of $9.82 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 2.29 and a beta of 1.72. The stock’s 50-day simple moving average is $169.96 and its 200-day simple moving average is $199.79.

EPAM Systems (NYSE:EPAM) last released its earnings results on Thursday, May 8th. The information technology services provider reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.14. EPAM Systems had a net margin of 8.47% and a return on equity of 14.15%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the firm earned $2.46 EPS. EPAM Systems’s revenue was up 11.7% compared to the same quarter last year. As a group, equities analysts forecast that EPAM Systems, Inc. will post 8.9 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on EPAM shares. Wall Street Zen downgraded shares of EPAM Systems from a “buy” rating to a “hold” rating in a report on Saturday, April 12th. Guggenheim lifted their price objective on shares of EPAM Systems from $210.00 to $215.00 and gave the company a “buy” rating in a report on Friday, May 9th. Susquehanna decreased their price target on shares of EPAM Systems from $270.00 to $210.00 and set a “positive” rating for the company in a research note on Wednesday, April 23rd. Needham & Company LLC upped their target price on EPAM Systems from $185.00 to $215.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Finally, Morgan Stanley lowered their price objective on shares of EPAM Systems from $250.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, May 9th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $233.93.

About EPAM Systems

EPAM Systems, Inc provides digital platform engineering and software development services worldwide. The company offers engineering services, including requirements analysis and platform selection, customization, cross-platform migration, implementation, and integration; infrastructure management services, such as software development, testing, performance tuning, deployment, maintenance, and support services.